CHICAGO -- Today, the Center for Financial Services Innovation announced the results from its first effort to catalog all existing financial products and services aimed at the underbanked population: the Underbanked Industry Scan.

com) will be invited to present demonstrations of their products and answer audience questions on the main stage at CFSI's 6th Annual Underbanked Financial Services Forum on June 9th, 2011, in New Orleans, LA.

PaySwag, a mobile app by CET that works on improving the payment experience for the underbanked, is integrating Sionic Mobile's ION Commerce Engine (ICE) to enable the loading of cash into a mobile wallet, allowing app users to pay for purchases with their phones and instantly earn rewards via the Mobile Rewards MarketplaceTM which includes more than 100,000 retail locations.

The underbanked are not a homogenous group that can be easily targeted with a one-size fits all approach," said Mark Schwanhausser, Director - Multichannel Financial Services at Javelin Strategy & Research.

According to the Center, the report, which benefits from strategic input and financial support from Morgan Stanley, encompasses 22 financial product types utilized by over 68 m underbanked consumers in the United States.

In addition to collecting accurate estimates of the number of unbanked and underbanked households in the US, the survey was designed to provide insights into their demographic characteristics and reasons why the households are unbanked and/or underbanked.

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